Illinois' casino industry is growing despite the high inflation rates seen throughout the country. The state has a few entertainment options like video gaming terminals (VGT), sports gambling, and online gaming. Recent reports state that it earned taxes worth $60 million from its gaming sector between January and April this year.
Even so, Illinois is not the only state in the Midwest that is experiencing a boom in gambling. Michigan and Indiana also generated high revenues last month, thus popularizing the region as an ideal gambling destination.
Gaming Offers Illinois More Economic Value
Illinois casinos generated $122.4 million in April. This was a 15.9 percent rise from the $105.7 million they earned in March. Also, they paid $21 million in April as total tax revenue.
Local mobile and retail gambling operators earned $162.4 million in the first quarter of this year. Rivers Casino in Des Plaines was the top-performing casino, and Rush Street Gaming owns it. It earned almost $17.5 million from table games, and its new poker room greatly contributed to the high revenue.
The casino built the poker room during its $87 million expansion project and its table game revenue comprised 60 percent of Illinois' overall $29.6 million. Bally's Corporation defeated Hard Rock and Rush Street in the bid for a Chicago casino license.
A unique committee will assemble on Friday to review the mayor's selection. Besides, Bally's $1.7 billion project needs the Illinois Gaming Board and City Council's approval.
VGTs and Slot Machine Numbers in Illinois
The state has 11 casinos, and nine of them generated more revenue from their slot machines in April compared to March. Some of them include:
- Rivers Casino-$28.8 million
- Grand Victoria-$10.8 million
- Harrah's Joliet-$10.6 million
VGTs are common in restaurants and bars. They had a 2.3 percent month-over-month reduction to $243.8 million. Today, the state has 7,914 gaming establishments with 42,571 machines.
The reduction didn't affect the net terminal income tax as it reached $82.9 million in April. Local municipalities earned $12.2 million, while the state got $70.7 million.
VGTs have paid $302.9 million in overall taxes, out of which Illinois got $258.4 million since January. This is almost $44 million more than what it got in the same period last year.
Michigan's Gaming Revenue
The Wolverine State recorded revenue growth in its online poker and casino sectors in April. Its gaming operators generated $132.4 million in gross gaming revenue last month, which was 39.5 percent more than what they earned in April 2021.
Online sports betting earned Michigan about $944,000 in tax revenue and slightly less than $600,000 for local taxes. Its iGaming industry earned it $23.4 million in taxes while the local municipalities got $6.6 million in taxes.
Indiana's Gaming Revenue
Indiana bettors spent more than $360 on sports wagers in April. This was less than what they spent in March as local sportsbooks generated $476 million, largely contributed by March Madness.
Still, the local sports betting revenue increased by 52 percent in April compared to April 2021. The Hoosier State's gaming operators generated more than $28 million in gross gaming revenue and paid almost $2.7 million in state taxes. Even so, the state hasn't yet legalized online casino games.